The Sensex today breached the 19,000 mark for the first time in nearly 15 months in anticipation of government unveiling next wave of big-ticket reforms like opening the pension sector to foreign investment and raising FDI cap in the insurance sector.

The Sensex opened on a positive note and further picked up the momentum surging over 200 points to cross the 19,000 level amid abuzz in the markets that Cabinet later in the day is likely to clear measures like opening pension sector to foreign investment, raising FDI cap in insurance sector from 26 per cent to 49 per cent, the Forward Contract Regulation Act (Amendment) Bill and the Companies Bill, among others.

Investors expect a rush of capital inflows if these big-ticket measures go through the Parliament, said brokers.

"Sensex today surpassed 19,000 and Nifty crossed 5,800 amid reports the government might clear bills aimed at hiking FDI in insurance and opening up the pension sector to foreign investors," said Amar
Ambani, Head of Research, IIFL.

Shares of companies with exposure to insurance business including Aditya Birla Nuvo and Reliance Capital ended with 2-5 per cent gain today.

Meanwhile, rupee gained for the fifth day to touch a five and half month high, breaching 52 against dollar for the first time since April 20, 2012.

Globally, Asian stocks ended mixed while European shares pared losses ahead of Bank of England's and the European Central Bank's meets later in the day.

In Asia, key benchmark indices in Singapore, Hong Kong and Japan rose by between 0.09-0.89 per cent while indices in South Korea and Taiwan shed by between 0.03-0.17 per cent.

European stocks see-sawed in their early trades and were quoting slightly better in the afternoon trade. Key benchmark indices in UK, France and Germany were up between 0.15-0.28 per cent. Indication of higher opening in US index futures also boosted the market sentiment, said dealers.

Speaking on domestic markets, Kishor P Ostwal, CMD, CNI Research Ltd said: "As expected, Nifty climbed but finding resistance at 5800 level...Support for Nifty lies at 5630 and if broken then we can see 5500 in October."

"While the reform initiatives area welcome start, we believe that, more reforms on the core sector – land reforms, mining, fuel supply for power, etc – will make the recent rise in the markets sustainable," said Dipen Shah, Head of PCG (Private Client Group) Research from Kotak Securities.